LEADERSHIP AND STRATEGY
Lion Equity | February 07, 2022
Lion Equity Partners, a Denver-based private equity firm specializing in corporate carve-outs, announced that its affiliate, Lion Equity Holdings II, LLC, acquired Elkhart Tri-Went Industrial (“ETI”) from Aalberts N.V., a Netherlands-based manufacturer of mission critical technologies.ETI is a manufacturer of complex extruded aluminum components and fabricated copper tube products serving OEM customers in the automotive, air conditioning & refrigeration, water systems and industrial markets. ETI leverages proprietary techniques and processes to create high quality products cost-effectively. The company is headquartered in Geneva, IN with additional manufacturing facilities in Knoxville, TN and Ajax, ON, Canada.
“Through its exceptional customer service, high quality products and talented employee base, ETI has distinguished itself as a trusted partner to bring complex, industrial solutions to the OEM market, ETI’s design expertise and FormCastTM proprietary manufacturing capabilities are key differentiators and provide a strong foundation for future growth, both organically and through strategic add-on acquisitions.”
-Ari Silverman, Co-Founder and Partner of Lion Equity Partners.
Joe Headdy, President of ETI, said What an amazing time for Elkhart Tri-Went Industrial, our partners, employees, and communities. This investment by Lion Equity is validation that our workforce, technical capabilities and product offerings are truly valued in the OEM market. We look forward to better serving our customers, employees, and stakeholders through targeted investments in capital equipment, growing the workforce, and positioning ETI to thrive in the markets we serve. ETI is excited about this opportunity as we celebrate the rich history of our company and the bright future ahead of us.
About Lion Equity Partners:
Headquartered in Denver, CO, Lion Equity Partners is an operations-focused private equity firm specializing in corporate divestitures and special situations. Our investment strategy is centered on creating value in our portfolio companies through a combination of operational improvements, organic growth, and strategic add-on acquisitions. The firm leverages its strategic, financial, and operational expertise to build businesses that will create long-term value for all stakeholders.
ROBOTICS AND AUTOMATION
Novanta | February 08, 2022
Novanta Inc. announced a new partnership with MassRobotics to help create and scale the next generation of successful robotics startups. Through the partnership, Novanta business units Celera Motion and ATI Industrial Automation will collaborate with MassRobotics to develop advanced innovations in medical/surgical robotics and improve robotic productivity.MassRobotics is an independent, nonprofit organization serving as an innovation hub for robotics and connected devices. Its efforts include providing innovative entrepreneurs and startups with the workspace and resources they need to develop and commercialize their products and solutions.
Celera Motion is an award-winning provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. It will collaborate with MassRobotics and the other companies, organizations and research institutions that it works with to create new innovations across a wide spectrum of applications, especially in medical robotics.
“We are proud to support MassRobotics in its critical mission to create advanced robotics, particularly in the medical field We are fortunate to be in a unique setting in the Boston area, surrounded by the world’s top hospitals, medical laboratories and educational institutions. That has given rise to a unique regional ecosystem of resources — with the necessary talent, knowledge networks, infrastructure and financial resources — to produce the best in medical/surgical robotics.”
-Matthijs Glastra, CEO of Novanta.
Added Brian Young, Chief Human Resources Officer of Novanta: “As a Boston-based company with technology development and manufacturing in Massachusetts, Novanta is uniquely positioned to be a leader in developing robotics talent for the region.”
ATI Industrial Automation is the world’s leading engineering-based developer of robotic accessories and robot arm tooling. It will work with MassRobotics to develop sophisticated technological solutions that improve robotic productivity.
“We’re thrilled to partner with MassRobotics to engineer the best innovations for the most demanding applications, We love to work with people as passionate about robotics as we are, and we see incredible opportunities ahead for exciting new advancements.”
-Robert Little, President and General Manager of ATI Industrial Automation.
MassRobotics currently leads a cluster of the highest concentration of robotics companies in the world, with roughly 400 companies, 65 resident startups and 40 strategic partners. Through programming and events, MassRobotics helps bring together innovative startups and existing technology organizations to promote innovation and nurture the next generation of talent.
We’re excited to be part of the Boston area’s robotics community, one that is leading the next wave of technology,” said Kalpana Singh, President and General Manager of Celera Motion. “Together, we are simultaneously fostering and benefiting from our area’s incredibly innovative culture. The future is very bright for our industry, and we can’t wait to see what we’ll accomplish together.
To learn more about Celera Motion, visit www.celeramotion.com. For more details about ATI Industrial Automation, visit www.ati-ia.com. To discover more about MassRobotics, go to www.massrobotics.org.
About Celera Motion
Celera Motion, headquartered in Bedford, Mass., is a market-leading provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. Celera Motion offers precision encoders, motors, and customized mechatronic solutions that help customers solve challenging motion control problems. For more information, visit www.celeramotion.com.
About ATI Industrial Automation
ATI Industrial Automation is the world leading’s engineering-based developer of robotic accessories and robot arm tooling, including Automatic Tool Changers, Multi-Axis Force/Torque Sensing Systems, Utility Couplers, Material Removal Tools, Robotic Collision Sensors, Manual Tool Changers and Compliance Devices. Its robot end-effector products are found in thousands of successful applications around the world. To learn more, visit www.ati-ia.com.
Novanta is a trusted technology partner to OEMs in the medical and advanced industrial technology markets, with deep proprietary expertise in photonics, vision and precision motion technologies. For more information, visit www.novanta.com.
MassRobotics is the result of the collective work of a global group of engineers, rocket scientists and entrepreneurs with a shared vision to create a strong, vibrant robotics and IoT ecosystem. MassRobotics' mission is to help create and scale the next generation of successful robotics and connected devices companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions. See massrobotics.org for details.
Mitutoyo America Corporation | January 14, 2020
Mitutoyo America Corporation is pleased to announce the release of the new M2 2D Processor as part of a new package with the PH-3515 Profile Projector. The M2 2D processor updates the PH-3515 Profile Projector with a new touch screen tablet and easier 2D processing for measuring dimensions. Mitutoyo Corporation is the world's largest provider of measurement and inspection solutions offering the most complete selection of machines, sensors, systems and services with a line encompassing CMM (Coordinate Measuring Machines), vision, form and finish measuring machines, as well as precision tools & instruments, and metrology data management software. Mitutoyo's nationwide network of Metrology Centers and support operations provides application, calibration, service, repair and educational programs to ensure that our 8,500+ metrology products will deliver measurement solutions for our customers throughout their lifetime.
Falkonry & ArcelorMittal | February 18, 2022
Falkonry, a leader in time series AI, today announced it has been selected for an innovation project by CESMII - The Smart Manufacturing Innovation Institute, in collaboration with ArcelorMittal Nippon Steel Calvert and ArcelorMittal Global R&D. The project was selected under the CESMII Roadmap Projects RFP3 initiative which aims to accelerate the adoption of sustainable and smart manufacturing practices in production operations.
“CESMII’s objective is to drive innovation through the democratization of smart manufacturing and we chose Falkonry and ArcelorMittal from a large pool of proposals to further this objective, Staying competitive in metal manufacturing requires reliable and efficient operations and this project aims to develop a reusable and interoperable solution for productivity improvement in steel mills.”
-John Dyck, CEO, CESMII
Falkonry is collaborating with ArcelorMittal to develop a strip break classification system in their Calvert, AL cold rolling tandem mill. One of the issues in the cold rolling of sheet steel, strip breakage, results in yield loss due to line stoppage, re-work, and may also cause damage to equipment. The objective of this project is to automatically classify strip break events using time series AI and machine learning (ML), and provide their explanations from time series data. Once the cause is determined using these explanations, corrective measures can be implemented to prevent repeat occurrences of strip breakage, thereby improving production efficiency. Falkonry’s time series AI will analyze the tandem rolling mill’s operational data in real-time and provide actionable insights directly to production and maintenance teams in the steel mill.
This joint opportunity with Falkonry will enable us to leverage the power of AI/ML in addressing a major challenge during the cold rolling of steel in a Continuous Cold Mill – occurrence of strip breaks which result in line stoppages and pose a risk of equipment damage,” said Bernard Chukwulebe, Group Manager, Processing and Control, and Digital Transformation Cluster Leader, ArcelorMittal Global R&D East Chicago Center. “Combining Falkonry’s expertise in AI and analytics and our steel manufacturing domain experience, we are confident of developing a solution that will help reduce downtimes and other operational issues resulting from strip breaks.” According to Thomas Brennan, CRM Process Technology Area Manager at AM/NS Calvert, “High-speed strip breaks are the most damaging for the mill and Falkonry AI will especially be beneficial in providing early warning that can help us activate our strip break responses in time to reduce our yield losses.
The project aims to improve performance and productivity for steel manufacturing by:
Delivering a Smart Manufacturing Profile of a tandem cold rolling mill.
Developing a reusable solution to tackle strip break classification in cold rolling of steel.
Reducing man-hours consumed in the classification process, increasing uptime for the cold rolling mill and reducing scrap generated due to strip break events.
“We are delighted to have been selected by CESMII for RFP3 and look forward to working with ArcelorMittal to illustrate how control systems data can be effectively combined with time series AI to enhance operational excellence for steel manufacturers, This project will leverage AI/ML to classify damaging events from control systems data and more quickly understand their causes, and deliver a scalable solution that can be readily applied across steel mills.”
-Dr. Nikunj Mehta, Founder and CEO, Falkonry.
Founded in 2016, in partnership with the Department of Energy, CESMII is the United States’ national institute on Smart Manufacturing, driving cultural and technological transformation and secure industrial technologies as national imperatives. By enabling frictionless movement of information–raw and contextualized data – between real-time Operations and the people and systems that create value in and across Manufacturing organizations, CESMII is impacting manufacturing performance through measurable improvements in areas such as: quality, throughput, costs/profitability, safety, asset reliability and energy productivity.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes. The company’s goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. For more information about ArcelorMittal please visit: https://corporate.arcelormittal.com/
Falkonry is an AI software provider that enables industrial companies to improve their output and quality through AI, advanced analytics, and visualization. Our time series AI suite of products can review terabytes of sensor and machine data in real-time to reveal actionable intelligence on excursions and faults. Our users - operational experts, reliability engineers, analysts, production supervisors - use these insights to organize, analyze, and improve operations at scale, and we work in your environment, whether that’s cloud, data center, edge or on-premise. For more information on how to leverage the operational data you already produce to make smarter decisions and improve operational availability, productivity, and quality, visit: falkonry.com.